Nan Ya Printed Circuit Board Corporation (Nanya PCB), a top Taiwanese IC substrate maker, cautioned that second-quarter earnings may miss forecasts, citing the sharp rise of the New Taiwan dollar and policy uncertainty surrounding President Trump’s proposed reciprocal tariffs. At the May 27 shareholders meeting, Chairman Chia-chau Wu noted that AI-related substrate demand has kept Taiwan’s capacity running at high levels, outperforming China, but rising currency pressures and trade tensions are now dragging on export sales.